Govt amends Foreign Trade Policy, 2023 for Stakeholder Consultation; encourages inclusive decision-making
The Directorate General of Foreign Trade (DGFT) on Thursday notified amendment in the Foreign Trade Policy, 2023 to include Para 1.07A and 1.07B to bring legal backing in the FTP to make it necessary to do consultation with stakeholders to seek views, suggestions, comments or feedback from relevant stakeholders, including importers/exporters/industry experts concerning the formulation or amendment of the Foreign Trade Policy. It also provides the mechanism to inform reasons for not accepting views, suggestions, comments or feedback concerning the formulation or amendment of the Foreign Trade Policy, 2023. The latest amendments in the Foreign Trade Policy, 2023 reflect upon the Central Government’s commitment towards strengthening the scope of Ease of Doing Business (EoDB) in India by encouraging stakeholder and expert participation through consultation in the decision-making process. The key objective of the amendments is to encourage the participation of all stakeholders in the d...